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CSPAN
Dec 29, 2012 7:00pm EST
, the losses at the americans' tax rates are going up. the americans paycheck will get a lot smaller. that would be the wrong thing to do for our economy. it would hurt middle-class families and it would hurt the businesses that depend on your spending. and congress can prevent it from happening, if they act now. leaders in congress are working on a way to prevent this tax hike on the middle class and i believe we may be able to reach an agreement that can pass both houses in time. but, if an agreement is not reached on time, i will urge the senate to hold an up or down vote on a basic package that protect the middle tax from the income tax hike, extends vital unemployment insurance and lays the groundwork for future progress on more economic growth and deficit reduction. i believe such a proposal could pass both houses with bipartisan majorities, as long as these leaders allow it to come to a vote. they still want to vote no, let tax hikes it the middle class, that is their prerogative. but they to let everybody else vote as well. that is the way this is supposed to work. we just ca
CSPAN
Dec 23, 2012 4:30pm EST
that government does. simplify the tax code for tax complexity has washington revolves around it. they lose the power for the brainpower to doing productive things. and so yes, the thing to remember about spending if the money doesn't come from the head. it comes from you. you spit it out to politically favored constituent groups. that's not stimulus, more like waste. >> host: just go back to your original point, would you like to see no floating currencies. we had it for 180 years. it provides stability and value is 60 minutes, 16 ounces in a pound. so it doesn't restrict money supplied to have a vibrant economy of blossoms. a stagnant economy stays stagnant. what it means is if you make a contract to years from now that a fixed amount of dollars from the value of the dollar to years of the same messages today. when you make an investment company you are in effect when you value that investment is the future stream of income and net present value. so if your facebook shoes because you think it's going to pretend times in the next five years, you don't know what the dollars going
CNN
Dec 29, 2012 10:00am PST
off that fiscal cliff. the deadline's tuesday. if the deal isn't reached, taxes will go up on just about everybody. and massive spending cuts will kick in. >>> in india, the young woman gang-raped on a new delhi bus is dead. doctors say she died peacefully at that singapore hospital where she was being treated. authorities plan to add murder charges against the six suspects arrested in that rape. the charges will be filed thursday. angry protesters have been demanding justice and more protection for women. and police expect more demonstrations in the days to come. >>> four people are dead after a plane crashed at the moscow airport. four others were injured. eight people were on board, all of them crew members when the plane overshot the runway. don't go away. at 2:00 p.m. eastern, the top stories of the day including that growing outrage over russia's adoption ban. hundreds of americans are frantic after being told their adoptions are not going to go through. we'll also take a look back at the year in politics and the fierce battles the unexpected alliances and of course the best
FOX News
Dec 29, 2012 8:30am PST
and wallet. looking to ring in with a mileage tax. it will help to rebuild our crumbling infrastructure. would that crum bem our economy instead . i am tracey in for cheryl casone. welcome to carbin'. wayne john and john and julian and carroll. welcome everyone. so, oregon's democraticic congressman asking for a mileage tax to rebuild our roses and bridges. john is this good or bad what s going on here? >> this is a ridiculous. it is the wrong time to implement it. electric cars are decades away . having a mileage tax is decades away . putting odom heretos and logging down to the mileage manually. this would cost a fortune for the tax. we have a gas tax that is do go through road and bridges. >> and talking about a vehicle miles traveled tax. someone like me wayne, so much. i understand why people would want to clarge me more. >> i understand it, too. but john is right we have a fuel tax. and and it is it another way to track pime and look for trouble . you got a fuel tax and fuel tax is a huge tax . they are using the argument to get better mileage now. maybe you don't n
CNN
Dec 30, 2012 12:00pm PST
about for weeks and weeks, which is those tax rates. republicans are saying they want to keep tax cuts in place for incomes above $400,000. democrats from their perspective they say they have moved away from one source i talked to, their comfort zone, $250,000. they moved up from that. they're not willing to go above 400,000. the bottom line, i think it goes without saying, this is not a good sign that things are so bad right now and they're not talking at this point when we're so close to what is a clear deadline. >> it's beyond that. it's obnoxious, it's -- >> it's unsulting to americans, it's insulting to the world. more than 500 days have gone by since they came to an agreement that they would have to do something by now. it is quite remarkable that we are actually in this position. dana, excellent reporting, stand by there. i want to remind our viewers, two things that we're talking about here. the democrats had signaled that they might be able to use 400,000 as a threshold. the republicans had signaled they might be able to use $1 million as a threshold. but the speaker of the ho
CSPAN
Dec 29, 2012 7:00am EST
the verge of an agreement that would let taxes rise on the wealthiest households while protecting the vast majority of americans from tax hikes set to hit in january. welcome to the saturday edition of "and the washington journal." for the first 45 minutes of the program we are going to be talking about senate negotiating a fiscal clifts deal, what has been going on on that half of the capital. see what they are talking about and how things are going. we want to get your input and your part of the conversation. you can reach out to us on twitter. facebook, facebook.com/cspan. and you can send us an e-mail. this is more from the article, the lead story in "the washington post." they ride, the development marked a breakthrough after weeks of paralysis. joining us by phone is one of the authors of that article, and, laurie, welcome to the program. tell us, what kind of a deal did the president offered? what is new in the negotiations among the senators and between the senators and the white house? caller: there does not appear to be anything new. the policies they are talking about a
FOX News
Dec 29, 2012 8:00pm PST
quote massive tax increase, and i think more so than any other time in our lifetime, paul, you will see a very divergent path taken by states like california that are very liberal, and some of the states in the south that will promote tax cuts, reductions in pension class, and i think it will be a real experimente to see which models work. >> do you predict california will not get down from the jobless rate and will see an out flow of capital? the state still has tremendous resources in agriculture and high-tech obviously and the hollywood area. are you over doing some of the pessimism here about california? >> no, i do not think -- i think it is hard to see any optimistic forecast for california. everywhere i go, and as you know i go all over the country, i can't tell you how many times i run into
CSPAN
Dec 23, 2012 10:05pm EST
that republicans must be ready to go over the fiscal cliff that includes no tax increases. sbainer boehner and other republican leaders have been too scared about suffering publicly if the nation goes over the cliff and the tax sbikeses that are triggered in january. now that the plan b has failed these conservative republicans should be empower you ared to make big demands and stop caving to the president out of fear." guest: that doesn't make much sense to me. you have to get it through the house republicans then the president has to sign something, if that doesn't happen then you have very large tax increases a lot more than what they were talking about in their negotiating and you have the defense cuts that happen overtime and some other, nondefense cuts. you really have this huge amount of revenue, a lot of debt reduction. it is hard to see what demands the republicans can think will be easier to make come the new year. guest: plus, we've seen the president's approval level is at a high. and the poll should show that the republicans are going to be blamed if we go over the cli
MSNBC
Dec 30, 2012 5:00am PST
package of spending cuts and the expiration of all the bush tax cuts. the latest in just a moment. right now, i'm joined by jamelle buoy. a staff writer for the american prospect magazine and "washington post" reporter, suzy kim. kevin williamson, dep deputy mag editor and a nonprofit group that advocates for social and economic equality. we're one day away from what most media are calling the fiscal cliff. if political concoction enacted by congress to frighten itself into passing deficit reduction measures which means unless congress acts in the next 48 hours the bush tax cuts will expire along with federal unemployment insurance and a broad package of the spending cuts including defense spending will take effect. do weeks of fruitless negotiations and john boehner and senate leader are working on a deal this morning to avoid the fiscal cliff, or as chris hayes and i call it, the fiscal curve. the deadline is soft. it's not like every american is going to be handed a bill on january 1st and there's way to manage the damage if the country goes over. the senate is set to convene t
CSPAN
Dec 29, 2012 3:32pm EST
protects the middle class from an income tax hike, extends vital unemployment insurance for americans looking for a job, and lays the groundwork for future progress. such a proposal could pass both houses with bipartisan majorities, as long as these leaders allow to come to a vote. if they still want to vote no, that is their prerogative. but they should let everybody else vote as well. that is the way this is supposed to work. we cannot afford a politically self-inflicted wound to our economy. the economy is growing. the folks you sent to washington have to do their jobs. the housing market is healing, but that could stall if folks are seeing smaller paychecks. unemployment rate is lowest it has been in 2008, but already families and businesses are starting to hold back because of the disfunction they see in washington. you meet your deadlines. you meet your responsibilities every single day. the folks you sent here to serve should do the same thing. we cannot let washington politics get in the way of america's progress. we've got to do what it takes to protect the middle c
MSNBC
Dec 29, 2012 4:00am PST
look like. >>> we have a deal. we may still get hit with an automatic tax hike. how much will that cost you? in time for the new year, a new snowstorm headed to the northeast. we'll let you know how bad this will get. and the yore in review, up with of the most unique and appalling takes on the year in review. good morning to you all. welcome to weekends with alex witt. no alex today. taking a much deserved weekend off. i'm t.j. holmes, good to be with you. new this morning, president obama outlining his course of action if we all go off the cliff. >> if an agreement isn't reached on time, then i'll urge the senate to hold an up-or-down vote on a basic package that protects the middle class from an income tax hike, extends vital unemployment insurance for americans looking for a job and lays the ground work for more economic growth and deficit reduction. >> the president is optimistic that a deal can be reached midnight on new year's eve. listen to senate minority leader mitch mcconnell. >> we had a good meeting down at the white house. engaged in discussions in the hopes we can co
FOX Business
Dec 30, 2012 1:30am EST
? >> it's going up in 2013. >> brenda: cavuto on business in three,two... >> hink taxes are not going up if these guys pull off a last minute miracle? think again. hi, everybody, i'm dagen mcdowell in for neil cavuto and fox on top of a clock ticking down. less than 62 hours until it all goes town and i'm not talking about thatall in time square or those automatic tax hikes and spending cuts lmakers are scrambling to avoid. i'm talking about taxes going up no matter what. taxes in the president's health care law. a new tax on investment income, a tax on medical device mers costing jobs, those aren't the only ones, that last tax forcing companies, many companies to laff workers. and coming attractions for the new year, to ben stein, charles payne, todd soenberger and sarah, charles, you first. >> let the flood gates open. listen, dagen, obviously, we know-- actually we don't know, but it's to nancy pelosi's point we're going find out and i hope we like it. a lot of taxes associated with obamacare. you mentioned the medical device ise, a l of these companies, by the way, medical d
FOX Business
Dec 24, 2012 10:00am EST
vacation, but there still is no deal on taxes. nearly every american is going to have to pay more in just eight days if congress can't reach some kind of an agreement. checking the big board right now, the dow jones industrial average is down about 41 points. again, we've got a half day of trading and we close today at 1 p.m., so that traders can go out on christmas break. light volume, but there are significant movers that we'll talk about in just a second. in particular, apple and jb penpejb-- j.c. penney. we have shibani joshi and adam shapiro as well and first to nicole, j.c. penney, a lot of people worried about retail sales, think it's going to hit companies like j.c. penney hard? guess what? the stock is up 4%, why? >> that's a huge move on a day when the major market average, look the at j.c. penney, it's posted comments from oppenheimer this morning, talking about the fact that promotions are working well and bringing traffic into john kerry opiniony, you know that we spoke about ron johnson and came up from apple and his whole theory, was no promotion and great prices all the ti
CSPAN
Dec 30, 2012 6:00pm EST
with these tax increases and spending cuts in a humane and tolerable way. the calm act does all of that. look what happens to people in need if we go over the cliff and just do nothing. on new year's day, the lowest income tax rate will jump from 10% back to the clinton-era rate of 15%. that's a pretty big financial bite for people in west virginia and i know in ohio, too, sir. these are people that are struggling right now. instead of an overnight tax hike of 5%, the calm act smooths the transition by phasing in increases over three years. so instead of a 5% increase, the 10% bracket would only go to 1 1.6% the first year. the calm act does the same with the other tax rate tax rates phm in over three years. but the calm act also puts the senate on record in support of comprehensive overhaul of our tax system. we can still work towards a big fix like the simpson-bowles framework and if we can do that next year, we could stop the full increase from ever occurring. another important feature of the calm act is the way it treats sequestration. again, if we go over the cliff and do noth
FOX Business
Dec 30, 2012 4:00am EST
shielded from tax increases, and now he wants an extension of unemployment insurance. that is something that essentially a nonstarter in a republican-controlled house. now he is leaving it up to the two leaders in the u.s. senate try to reach a compromise. something perhaps along the line of what is being negotiated between the speaker and the president a couple of weeks ago. perhaps a tax increase for amounts of more than $400,000 or $500,000 per year. also, senate leaders want to includsomething on the este tax, according to a white house official. we'll can also be key to this is that the white house officials are also telling fox news and ed henry that it appears as though the debt ceiling is not part of that. this is a huge nonstarter for republicans in the house. they want any dollar and increase of the debt ceiling to also invol a dollar in cuts over 10 years. if they don't have those corresponding cuts, it is unlikely that many of them will vote for an increase in the debt ceilin removing them from the equation helps pave the way, at least for what will really be described as a
CSPAN
Dec 23, 2012 3:33pm EST
many americans as the president will permit, or we can end up at an impasse that ensures taxes go up on everyone. let us pass this bill. if it does not work, let us pass whatever level the president will agree to. is not as if we have not repeatedly warned him. my conservative colleagues say sparing some people these tax increases is tantamount to racism among others. a lifeguard who sees 10 swimmers drowning, if he can only save nine, that does not mean he has drowned the 10th one. no lifeguard would be worth his pay if he said, my principle is nobody should drowned off my beach. if i cannot save them all, i will not save any. americans watched as thousands of middle-class jobs are sacrifice on the ideological obama next year, this country will be a lot wiser. until then, let's save the weekend. >> the done in's time has expired. >> i am pleased to yield three minutes. >> the gentleman from michigan is recognized for 3 minutes. >> this is an important moment. these bills move the nation dangerously closer to the cliff. with only 11 days before our nation will go over. they make finding
CNN
Dec 30, 2012 6:00am PST
another tax cut. i would argue we can't afford it as a country, but the question is, are we going to allow middle class families to see their taxes go up while we have this debate? if we can agree we will continue tax cuts for the middle class, everything else begins to fall into place. >> wlho is working at this moment? are you involved in this? >> i've been in touch with those involved in this. there is no deal yet. i continue to hope for a bipartisan agreement today. what we see a monumental failure of presidential leadership. the president is the only person with a pen to sign this, and it's the president's responsibility to work on something that the house will pass, the senate will pass and he will sign. he is outsourcing this. he continues to campaign and lecture when he ought to focus on the number one problem that hurt z us as a country, which is our debt. >> it would be nice to place all the blame on the president, but that's not the reality. in the house our democratic caucus is meeting later on today. we've been united as democrats in wanting to protect middle class famil
CBS
Dec 30, 2012 8:30am PST
democrats tell us they are just still too far apart on taxes. democrats was soset the limit at $250, 000, let the tush of bush tax cuts expire for people making more than that. republicansment that limit to be higher, and they're also far apart on estate taxes. they will meet with their caucuses later today and at that point we expect they're going to tell their members they just weren't able to make out a deal on this. >> o'donnell: major, you have been talking to the white house. >> reporter: the fiscal cliff preoccupation hab about taxes but there's another part, across-the-board cuts, and they are preparing to send out furlough noticees, and apply want quester. >> o'donnell: the white house is preparing to do that? >> reporter: it that's. because the deadline is approaching. it cannot reasonably ignore the law, and misapplying. so it is now preparing to send out a variety of notices to federal contractors, the contract is suspended or canceled. or to tell various agency the-- the t.s.a., f.a.a., all through the federal government, lay people off, this is real, because they seapo
FOX Business
Dec 26, 2012 6:00pm EST
the second round of so-called bush tax policies came to the house. the house house wanted $550 billion in cuts. all they could get was $250 billion. it was a compromise. george bush came down and met with our conference and said, you guys thought the good fight, this is what i mean, need, let's go and take what we can get, with a $250 billion and the problem is solved. gerri: i don't see that exactly. [talking over each other] [talking over each other] >> can you imagine? can you imagine lyndon johnson sitting on the sidelines while something like this was going on? gerri: i cannot imagine lyndon johnson going anywhere but washington and sitting there, quite frankly. something that is new out this afternoon, senior administration officials in hawaii, saying that it up the gop. that gop leaders should not stand in way of coming to resolution of the fiscal debt crisis. what do you say to that? let me tell you, a lot of finger-pointing is continuing, and i'm not seeing any resolution. i don't think anyone else's either. >> speaker boehner had planned be on the floor last week. the
MSNBC
Dec 23, 2012 4:00am PST
christmas on a scale-down deal that would spare the middle class from tax hikes on the first of the year. the president met with harry reid and spoke with john boehner. is a grand bargain still possible when everyone is leaving town? >> a week from the shooting massacre that left 20 children and six educators dead, we have heard plenty of people calling for new gun control laws but very little from the national rifle association until now. in a bizarre news conference, the head of the nchl ra said the solution of gun violence in this country is simple, more guns. armed officers in every school. it is the same line we have heard before from the nra. has the country's relationship with guns fundamentally changed since newtown. what we saw last night from house republicans is yet another symptom of a real problem for the gop. they don't believe in compromise. they have lurnlged too far to the right. president obama tapped kerry to be the next secretary of state. let me finish with the great new movie about getting bin laden and how one person can make a huge difference. we begin with where
MSNBC
Dec 30, 2012 3:00pm PST
. but their only priority is making sure that tax breaks for the wealthiest americans are protected. at some point, i think what's important is that they listen to the american people. >> joining me now, congressman chris von holland of maryland. good evening. it is a good sign that chained cpi is off the table. the senate will be back tomorrow at 11:00. how high is your optimism or pessimism at this moment? >> well, it was a very bad sign when senator mcconnell put this social security change on the table, as part of a small deal, that was obviously something that could have totally thrown a monkey wrench into the process. so the fact that they backed off that is obviously good news. but as senator reid said, there are lots of obstacles still to go. and the fundamental issue remains what the president just said in that clip. both today and for the last year, the number one priority of republicans have been -- has been to use the middle class tax cuts as leverage to try and extract these super big tax breaks for very wealthy individuals, including now their focus on trying to get 7,
ABC
Dec 30, 2012 8:00am PST
can't happen at the last minute, but to avoid going over the fiscal cliff, to avoid taxes being raised on middle class folks and on 98% of america to avoid, in my view, a sequestration that would be very damaging to the defense and nondefense sides, there's an agreement that's possible, and, you know, there are four issues that are outstanding. each of them is bridgeable in a certain way. they are, we believe that the bush tax cuts should go up for people above $250,000 income a year. there is a disagreement on estate tax. we prefer the 2009 levels. jon would prefer something else. whether unemployment insurance is included in, we feel that's very important, and then whether you use some small portion of the revenues you gain from the tax increases to pay down sequestration per year. those would be the four areas they have to come to agreement on. there are some areas i think there is agreement. dealing with the amt patch so that middle class people don't go up, the sgr, the medicare and some tax expenditures on business and middle -- >> let's be clear here. you're talking about extend
CNN
Dec 30, 2012 2:00pm PST
terms of what we think the rates should be for -- and at what point there should be a tax cut and at what point there should be a little revenue that we should collect. there is a difference there. there was a difference about whether or not we should be looking at the social security issue in this discussion. my understanding now the republicans have backed off now, correct, and we are looking at whether or not we are going to end up with deficit and debt reduction and whether or not the changes the republicans are insisting upon are going to comes on the backs of the middle class. >> seine toe, the clock is tick. and i'm sure you heard during your campaign, which you just won, a lot of people saying what is going on with washington? we are so close now this deadline. you can't -- probably hard to put into words how frustrated people are are a lot of talking going on and you can't come together with republicans and they can't come together with you to stop taxes from going up for all americans. >> well, the american people in their wisdom sent a divided government to washington. off
MSNBC
Dec 27, 2012 1:00am PST
. after you do it, nothing occurs. if washington doesn't do something, a lot happens. all the bush tax cuts expire, the payroll tax cuts expire. doctors participating in medicare, see their reimbursements cut by more than 25%. good luck getting a doctor then. more than a trillion dollars in spending cuts are triggered. the economy probably falls back into recession, and merry christmas and happy new year from washington to you, the american people. heard about the offers and the counteroffers president obama and house speaker john boehner put on the table. if you live in the game area, you're going to be reading about the cliff whether you like it or not. we at starbucks have an opportunity and i believe a responsibility to use our company's scale for good, by sending a respectful and optimistic message to our officials to come together and reach important ground. this week, through december 28th, partners at our washington, d.c., area stores are writing come together on customer's cups. i am hugely in favor of this new starbucks initiative. not because i think writing come together on
CSPAN
Dec 22, 2012 6:00am EST
up the tax bill last night because we did not have the votes to pass. it is not the outcome that i wanted. was the will of the house. unless the president and congress take action, tax rates will go up on every american taxpayer and devastating defense cuts will go into effect in 10 days. the house has already passed bills addressing the fiscal cliff. we passed a bill replacing the president's sequestered with irresponsible spending cuts. we did that last may. we passed a bill to stop all the tax hikes on the american people scheduled to take effect january 1, and we did that august 1. and we proposed plans over and over again that democrats used to support but now will not. i do not want taxes to go up, republican do not want texas to go up. but we only when the house. democrats continued to run washington. what the president has proposed so far simply will not do anything to solve our spending problems. he wants more spending and more tax hikes that will hurt our economy. and he simply will not deal honestly with entitlement reform and the big issues facing our country. we need s
CNN
Dec 30, 2012 9:00am PST
tax cuts for 98% of americans. i don't think anybody would consider that some liberal left wing agenda. that used to be considered a republican mainstream agenda. >> joining me senator olympia sn snowe of maine. let me start with that. it does seem sort of counter intuitive to have republicans wanting to fight for tax hikes for no one and in that fight, being willing to allow tax hikes for everyone? >> you know, i would agree with that. obviously it is important to make sure that middle income america does not confront a tax increase at the beginning of next year, which is less than two days away. that is critical. the second part is, of course, is trying to address the spending cuts that are going to be crucial next year as well. more for the long-term debt reduction that i think republicans are talking about, but the bottom line is, we should pass this tax extension for middle income america before we adjourn this year. >> and what is -- what do you -- where do you think this will land? as we understand it now, there is still a difference of opinion, about where that tax rate should
FOX News
Dec 28, 2012 12:00am PST
everything they want. they would get to raise taxes, and then, to top it off, the shoulders of republican mÑwxj >>> and watch this. >> american people, i don't think understand the house representative is operating without the house of representatives. it's being operated with a dictator ship )÷!>> let him take the country over the fiscal cliff if he so chooses. they were elected to get the fiscal house in order. now is the time for republicans to stand up for your kids and grandchildren. maybe she the should say they're looking out for the future, future generations maybe now is the time to take a stabbed stand and say they're not going let washington continue with this out of control spending, debt, maybe now, at this moment, maybe that is the right thing to do. and joining me now with reaction to this developing story are two house republicans, congressman louie gomert. welcome back to "hannity". >> good to be with you. >> sean, i can -- . >> sean: go ahead. >> i can sympathize that he can not imagine our consciences in the house because you'd have to have one to aim
CSPAN
Dec 22, 2012 7:00am EST
stomach any rise in tax rates even on those making more than $1 million which was mr. boehner's plan. so walk us through what happened on friday. how did we get there? and it seems like the speaker of the house didn't see this coming, and a lot of folks in washington want to know why not? guest: we begin the week with the speaker of the house saying negotiations between he and president obama had stalled. they were stuck on their -- i guess i would say maybe not their final offers but current offers. boehner said he would raise taxes on those making a million a year or more and get all told $1 trillion in tax increases which he wanted to be matched with $1 trillion in spending cuts and the rate increases on those making $1 million or more and remove loopholes and deductions to get the rest in revenue and then you had your spending cuts. the president, sort of depends on how you do your math and counting, but the president -- by scoreible math the president would have been at $1.3 trillion in tax increases and $900 billion in spending cuts and the president wanted rate increases on ev
CNBC
Dec 28, 2012 4:00pm EST
, $4 in taxes for every dollar in phantom spending cuts. that's fiscal irritation, but the health of corporate america will be what ultimately prevails. >> sounds like david has been reading your book, rick santelli. >> it does. >> big fan of rick. >> this is such a perverse world we live in, okay. let's look as what's happening. down 158 in stocks and that pushed the ten-year yield under 170, okay. >> really. let me get this straight. they can't get a deal on controlling out-of-control debt, so rates go down. i used to trade during graham/rudman and i remember when they couldn't get deficit conversations right, treasuries went down and stocks went down. oh, would i love to get back to that type of reality. >> yeah. but you had a different guy at the federal reserve at the time. >> yeah, a different guy, you know, in hindsight he was maybe the monetizer in charge -- in chief, and we get a little historical perspective on that, but as many things that i disagree with alan greenspan on, i thought he was at least more forthright into what he was doing, and even going after the governmen
CNBC
Dec 28, 2012 7:00pm EST
this tax hike on the middle class and i'm optimistic we may still be able to reach an agreement that can pass both houses in time. >> now what would be in that mini deal? we're talking about tax increases for people at near the top of the income scale. the question is the threshold, 400 or $500,000 are the likely places that that could end up. it would likely turn off the automatic sequester by using some of the revenue from the tax increases to account as budget cuts and turn off they is quester and it would also extend unemployment benefits and do the so-called doc fix to prevent reimbursements from declining and also have a milk fix, michelle that would prevent the doubling of milk prices which would occur without an extension of subsidies. >> why aren't people more optimistic? i haven't heard about enough spending cuts that would bring republican spending cuts. why are republicans more optimistic now? >> they're concerned spending cuts would not be a part of this deal. i talked to an aide who said that opportunity would slip through our fingers and we'll make another round a
FOX News
Dec 29, 2012 3:00pm PST
scramble to prevent serious tax hikes and spending cuts that would potentially send the u.s. into another recession. we don't want to see that a. right now senate leaders are trying to assemble a last minute tax deal that they hope can pass both chambers of congress. and make it to the president's desk before monday's midnight deadline. chief congressional correspondent mike emmanuel has more on this. what are the latest on these talks to avoid a fiscal catastrophe? >> the key negotiators have been tight lipped, which may be a good sign talking to one another and not to reporters. senate majority leader harry reid and mitch mcconnell asked president obama and other congressional leaders to give them time to work on a compromise deal, recognizing time is running out. again today, the president emphasized the need for action. >> and congress can prehave not it from happening if they act now. leaders in congress are working on a way to prevent this tax hike on the middle class and i believe we may be able to reach an agreement that can pass both houses in time. >> we are told convers
MSNBC
Dec 21, 2012 11:00pm PST
christmas on a scaled down deal that would spare the middle class from tax hikes on the first of the year. >> we've heard plenty of people calling for new gun control laws, but very little from the national rifle association until now. in a bizarre news conference that was interrupted twice by protesters, the head of the nra. it's the same line we've heard before from the nra, but has the country's relationship with guns fundamentally changed since newtown? and what we saw last night from house republicans is yet another symptom of the real problem for the gop. they don't believe in compromise. and they've lurched too far to the right. we begin with where things stand on the fiscal cliff, msnbc political analyst and msnbc contributor jared bernstein. jentle men, president obama tonight said he had spoken with speaker boehner in addition to senate majority leader harry reed. >> i just spoke to speaker boehner and i also met with senator reed. in the next few days, i've asked leaders of congress to work towards a package that prevents a tax hike on middle class americans, protects unemploym
ABC
Dec 28, 2012 11:35pm PST
amsterdam and back all in business class. >> total cost, just the taxes, $60 each, plus 120,000 frequent flier miles each, which sounds high, but not when you're what rick is, a frequent flier millionaire, one who wants to teach us a few tricks on how to be that millionaire also. >> does anybody in this room sign up for a credit card primarily to get a sign-up bonus? >> reporter: did you know you can get miles by the millions without ever flying? these folks are smiling because they do know that. >> the most important one to be able to say is i have never been late on a payment. >> reporter: the first method, cashing in on credit card bonuses. lots of banks now offer new credit card holders sign-up bonuses of 20,000, 40,000, sometimes 70,000 miles or points. rick teaches that people who have shaky credit who cannot pay their bills in full every month or for applying for a mortgage in the near future should not be playing this game. within the fraternity of extreme frequent flyers, it's controversial that any of these secrets are getting out. but rick started a guide called frugal travel
FOX Business
Dec 23, 2012 2:30am EST
with your tax return. come up with a back up plan. i.r.s. warning forororororor@a >> are you looking forward to the upcoming tax refund money? don't hold your breath. they're warning if dc doesn't get a debt done. tax refunds for 100 million americans will be on hold. tracey you say this is going to put and economic recovery on hold. >> shame on congress for putting the american people in this position again. 30 million people waiting to know if they did . dangling right now. how the heck do you file your tax return. it is it a simple tax return . it is the last day of return. they can't. it is so unfair. >> wayne, is it bad as tracey thinks it is it. >> i think i is worse than tracey thinks it s. amt or alternative minum tax wasa pass to hook the high bracket taxpayers. that was dropped down to 25,000. right in there and so that is for people filing as together. that means an extra 30 million people will be paying taxes that never paid taxes before. they don't understand the alternative minimum tax and if it is not attached. the fall out has to reconfigure and takes them 90
MSNBC
Dec 30, 2012 2:00pm PST
, republicans do the same on taxes. >> raising taxes to pay for new spending is not something that republicans believe this debate ought to be about. it ought to be about reducing the deficit and the debt, and what they are essentially suggesting is we want new taxes. we want higher taxes on people in this country to pay for new spending. >> so what happens next? with us nbc news capitol hill correspondent mike vic rah and nbc news white house correspondent kristen welker. mike, let's get started with you. what's happening right now in the senate. i understand there's an update on the chained cpi. >> reporter: they say the darkest hour right before the dawn, melissa. everybody ought to hope that's true, at least if you don't want to see your taxes go up on midnight on monday and tuesday night because everything seems to be at a standstill right now. let's review the bidding. here it is from a republican source here on the republican side of capitol hill. all day yesterday they were trading proposals back and forth. by his count two democratic offers came back to republicans and four came back
CBS
Dec 28, 2012 6:30pm EST
automatic tax increases and spending cuts come, you know, 1. the president spoke to the nation this evening after an hour-long meeting with congressional leaders at the white house. democrat and republican leaders have agreed to extend jobless benefits and some tax increases. they appear to remain deadlocked on who exactly will pay those higher taxs. we have two reports tonight, beginning with major garrett at the white house. major, good evening. >> reporter: good evening, jeff. two things are clear tonight that were not clear this morning-- progress is real and if a deal is reached, it will be far smaller than any of the key players envisioned only a couple weeks ago. is this deal, if it's to be reached, will not the so-called grand bargain with trillions of dollars of deficit reduction. in fact, jeff, it's not even clear this deal-- again, if there is one-- would stop the across-the-board spending cuts for the defense department and other government programs. it looks like those cuts will go forward. what the president said today is 24 hours from now the senate leaders have to ha
MSNBC
Dec 22, 2012 2:00am PST
scaled down deal that would spare the middle class on tax hikes from the first of the year. he spoke with john boehner tonight but is grand bargain still possible when everybody is leaving town. then in the weeks since the shooting massacre in a town that left hand 20 children and six educators dead, we've been hearing for plenty calling for new gun control laws but little from the nra until now. in a bizarre meeting, the head of the nra said the solution to gun vie lerchs in this country is simple. more guns. armed officers, in fact, in every school. it's the same line we've heard from nra, but has the country's relationship with guns fundamentally changed since newtown? and what we saw is yet another symptom of a real problem for the gop. they don't believe in compromise and they've lurched too far to the right. >>> plus replacing hillary clinton, john kerry gets the job he's waited for his whole life. president obama tapped john kerry as the next secretary of state. >>> and let me finish with the new movie about getting bin laden and how one person can make a huge difference. >>>
CNN
Dec 30, 2012 3:00pm PST
republicans are still talking. they are still trying to reach a deal to stop the spending cuts and tax hikes that are likely or possible to push our economy back into the recession if we go over the fiscal cliff. >> but ali, neither side is budging much. you have been reporting on it for the last couple of hours. friday though, president obama said that he was optimistic that the two sides could reach a deal. this morning, he sounded less positive though. >> if, you know, if people start seeing that on january 1st, this problem still has not been solved, that we haven't seen the kind of deficit reduction that we could have had, had the republicans been willing to take the deal they gave them, and if they say that people's taxes have gone up which means consumer spending will go down. >> and keep in mind that the senate is the first hurdle. any deal has to pass the house. we are not into the senate yet and the republican speaker john boehner plablamed the crisis one president saying he the one who has never found a way to say yes. >> so you are in new york and i'm in atlanta, and we get
FOX News
Dec 26, 2012 1:00pm PST
boehner said to obama, quote, i put $800 billion in tax revenue on the table. what do i get for that? allegedly we understand president obama came back to him and said, you get nothing. i get that for free. you get nothing. >> there were a couple eye-opening quotes. a "wall street journal" story before christmas that went through the timeline of how this happened between painer and the president -- boehner and the president. boehner put the rough knee on the table and the president saying that's what i get out of the gate. you get nothing for that, which was a surprise to the speaker. he said if we go over the cliff, that the president threatened boehner, he said i will use my inaugural address to blame you for tax increases and for the fiscal cliff going overboard. that brings out pretty big guns when it comes to a president's bully pulpit. if atlantes to use that to play politics, that's significant. >> i have to bring this up. but how did they get to the point where the speaker tried to bring a vote to his caucus to be rejected? how did they not see that coming in why did he bothe
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